Let me be frank with you all. There are literally hundreds of system threads and traders here you don't understand and you don't like how I trade please leave.Nobody asks you to be here. I take my time from family work etc to help others but its getting almost unbearable.

Ignored

I think it's fair to say Davit, that most of the 'noise' stems from one single source over at the TMS thread.....you know the one....the guy who's ego is bigger than his trading ability. Don't allow him and his kind to win....you're doing a great job.

Let me be frank with you all. There are literally hundreds of system threads and traders here you don't understand and you don't like how I trade please leave.Nobody asks you to be here. I take my time from family work etc to help others but its getting almost unbearable.

{quote} I read this notes by the banks/houses for direction and sentiments ( I dont have their capacity and reach, so its wise to piggy back on them), my aim is to be directionally right and not necessarily right in terms of actual levels ( I trade what I see based on Davit's pivot, PA, levels and the direction in mind). Global growth has been forecasted to improve in 2018 by IMF and I expect commodity prices to do well/benefit amidst a weaker dollar. For the past 2 weeks the pair has been ranging and I think it might go up, I might be wrong but...

Ignored

The bank forecasts you use might have more weight than this news article (link at end of my post) but I'm highlighting it just for an alternate view. I suspect the problems it highlights are medium to long term (ie not 2017 Q4 that UOB talked about) and some areas need to be critically assessed eg under heading "WE’VE WASTED OUR GRAVY TRAIN" is a quote
"According to the Australian Bureau of Statistics, in 2015-16 the entire Australian mining industry which includes coal, oil and gas, iron ore, the mining of metallic and non-metallic minerals and exploration and support services made a grand total of $179 billion in revenue.
It had $171 billion of costs and generated an operating profit before tax of $7 billion which representing a wafer thin 3.9 per cent margin on an operating basis."

Can I challenge their stats? No, but I do wonder if they are misleading given in other areas I've heard of companies transferring their profits to tax haven's to maximise wealth. If such transfers have happened in this industry than it could explain why margins show up as being so thin in ABS stats.

{quote} I still have 1 position open, only because TP was set at 1.1010 (just above s61 pivot) and it didn't get triggered. Will probably add short/s if goes back up around the WP. (took profit on other AN shorts earlier to reduce my exposure, partly due to other pairs I'm still exposed to as I've still to get my timing right.)

Ignored

Have opened another AN short at what was WP last week, now b/w R38 and R61, looking for trend continuation but will add to it at higher levels if it goes there and all the while enjoy +ve swap!

{quote} The bank forecasts you use might have more weight than this news article (link at end of my post) but I'm highlighting it just for an alternate view. I suspect the problems it highlights are medium to long term (ie not 2017 Q4 that UOB talked about) and some areas need to be critically assessed eg under heading "WE’VE WASTED OUR GRAVY TRAIN" is a quote "According to the Australian Bureau of Statistics, in 2015-16 the entire Australian mining industry which includes coal, oil and gas, iron ore, the mining of metallic and non-metallic minerals...

Ignored

Thank you dab for sharing, the article highlights structural issues with the Aussie economy, and long term as you have highlighted. Thank you once again.

D labour of a fool wearieth him cos he doesn't know how to enta d city

Looks like a potentially nice Bearish EU PA setup with going into the expected Tuesday morning NYO reversal at R78 + TDI cx after a RT -> PB then a move southbound towards DO just before PPI Red News:

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Set and Forget bearish Sell-Stops in anticipation for a southbound move - perhaps too aggressive, but my intuition says "yes" and "Do It":

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Well, poor prediction (mistake) for my immediate shorted targets as PA went Bullish. However, I did have adequate capital (although Demo) to cover move if it went against me ("Be prepared !" - learned in the Boy Scouts - circa 1968). In the end, my Targets will be hit after correction down the road ("What goes up, must come down" - 2nd Law - Isaac Newton - circa 1668) :

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All kidding aside, I believe mistakes need to be evaluated for study too - i.e. could have waited at least an hour or more after the Red PPI News !